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First Allied Taps Kevin Keefe, Former Larry Roth Aide, as President

Keefe was at Advisor Group with Larry Roth, who now leads RCAP's Realty Capital Securities.

In the first addition of an outsider to its leadership ranks since being acquired by RCAP Holdings (RCAP) in September, First Allied Securities says it has named Kevin Keefe president.

Keefe, who previously was head of wealth management for the AIG-owned Advisor Group, will lead the broker-dealer operations and report directly to First Allied Holdings CEO Adam Antoniades.

“We are extremely pleased to welcome Kevin Keefe to First Allied. His diverse skill set and deep knowledge and understanding of the independent broker-dealer channel will enhance our current offering to our advisors,” said Antoniades in a statement. “We are fortunate to have Kevin, with his extensive experience in this area, to fill this important new position.”

The new First Allied president worked for several years at the Advisor Group with ex-CEO and President Larry Roth — who now leads a unit of RCAP, Realty Capital Securities.

(Realty Capital Securities is the nontraded REIT broker-dealer and wholesaler arm of RCS Capital, which is led by Nicholas Schorsch.

Before joining the Advisor Group, Keefe oversaw the development of platforms and services at LPL Financial (LPLA) from 2004 to 2009.

“I am thrilled to join First Allied and to lead its broker-dealer operations,” Keefe said in a statement. “First Allied has earned a tremendous reputation for attracting independent advisors of the highest caliber, and I look forward to helping it continue to successfully fulfill its vision of providing them with the highest quality in practice management services, technology, tools and resources.”

In March, First Allied promoted Matt McGinness to the role of CEO for First Allied Advisory Services. McGinness also reports to Antoniades.

RCAP recently acquired Cetera Financial Group — which includes about 6,600 independent financial advisors — from the private equity group Lightyear Capital. It is also in the process of buying Investor’s Capital, J.P. Turner and Summit Brokerage Services.

Combined, RCAP will include about 8,900 advisors who work with about $190 billion in assets when these deals are completed.

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